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Report No. : |
349147 |
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Report Date : |
17.11.2015 |
IDENTIFICATION DETAILS
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Name : |
PETMY ENTERPRISES CO., LTD. |
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Registered Office : |
5F.-1, No.81, |
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Country : |
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Date of Incorporation : |
24.10.1984 |
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Com. Reg. No.: |
69856607 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of bolt formers |
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No. of Employees : |
About 15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report
can be made on e-mail: infodept@mirainform.com while quoting report
number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually
decreasing government guidance of investment and foreign trade. Exports, led by
electronics, machinery, and petrochemicals have provided the primary impetus
for economic development. This heavy dependence on exports exposes the economy
to fluctuations in world demand. Taiwan's diplomatic isolation, low birth rate,
and rapidly aging population are other major long-term challenges.
Free trade agreements have proliferated in East Asia over
the past several years. Following the landmark Economic Cooperation Framework
Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a
free trade deal with New Zealand - Taipei’s first-ever with a country with
which it does not maintain diplomatic relations - and, in November, inked a
trade pact with Singapore. However, follow-on components of the ECFA, including
a signed agreement on trade in services and negotiations on trade in goods and
dispute resolution, have stalled. In early 2014, the government bowed to public
demand and proposed a new law governing the oversight of cross-Strait
agreements, before any additional deals with China are implemented; the
legislature has yet to vote on such legislation, leaving the future of ECFA up
in the air as President MA enters his final full year in office. MA has
portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free trade
networks.
Taiwan's total fertility rate of just over one child per
woman is among the lowest in the world, raising the prospect of future labor
shortages, falling domestic demand, and declining tax revenues. Taiwan's
population is aging quickly, with the number of people over 65 expected to
account for nearly 20% of the island's total population by 2025.
The island runs a trade surplus, largely because of its
surplus with China, and its foreign reserves are the world's fifth largest,
behind those of China, Japan, Saudi Arabia, and Switzerland. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Taiwan since 2009 has gradually loosened rules governing Chinese
investment on the island and has also secured greater market access for its
investors in the mainland. In August 2012, the Taiwan Central Bank signed a
memorandum of understanding (MOU) on cross-Strait currency settlement with its Chinese
counterpart. The MOU allows for the direct settlement of Chinese RMB and the
New Taiwan dollar across the Strait, which has helped Taiwan develop into a
local RMB hub.
Closer economic links with the mainland bring greater
opportunities for Taiwan’s economy but also pose new challenges as the island
becomes more economically dependent on China at a time when political
differences remain unresolved. During 2014, the press paid increasing attention
to domestic economic issues, while pushing aside the debates over trade
liberalization that were a hallmark of MA’s tenure. The media focused on the
divide between Taiwan’s “haves” and “have nots,” providing extensive coverage
of public frustration with stagnant wages, skyrocketing housing prices, and the
difficulty of finding decent entry-level jobs.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
5F.-1, No.81, Chong
Syue Rd., East District, Tainan City 701, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-6-260-9088 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Registered Name: |
Petmy Enterprises Co., Ltd. |
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Registered Address: |
5F.-1, No.81, Chong Syue Rd., East District,
Tainan City 701, Taiwan (R.O.C.) |
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Date of Foundation: |
1984-10-24 |
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Registration Number: |
69856607 |
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Registry: |
Tainan City Government |
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Registered Capital: |
(As of 2015.11, 1 NTD = 0.031 USD) |
|
Legal Representatives: |
Xinjian Chen |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was
incorporated on 1984-10-24 with registered number 69856607 as Private Limited Liability Company in Taiwan.
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Amount |
|
Xinjian Chen |
|
|
4,000,000 |
|
Core Management
Director
|
Name |
Xinjian Chen |
|
Position |
Director |
Personnel Structure
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Total Employees |
About 15 Employees |
Offices & Factories
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|
Headquarters |
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Add |
5F.-1, No.81, Chong Syue Rd., East District, Tainan City 701, Taiwan
(R.O.C.) |
Production Information
Subject is a trader of bolt
formers without any production activities.
Purchase Information
The registered activities of subject:
|
No. |
Details |
|
1 |
General import and export |
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2 |
Agent the quotation, bidding and sales of the products from both
home and abroad |
The products of subject are mostly purchased in Taiwan.
Subject is engaged in sales of bolt formers
The major products are bolt formers, steel mould, cold pressing
molding machine, hexagon socket hole tubing head and heading die
Subject’s sales regions include domestic market, Southeast Asia,
North America and Europe
Subject’s major customers are manufacturers of machinery
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Bolt formers |
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Payment Terms |
T/T, Cash |
Import
Subject has little import.
Domestic Markets
|
Product |
Bolt formers |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Bolt formers |
|
Selling Terms |
L/C, T/T |
Subject has no obligations to disclose
its financial statements to the third party according to the relevant policy in
Taiwan and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff declined to
disclose its financials citing the grounds of company’s confidentiality; from
other sources we could not obtain such information, either.
Subject declined to disclose its bank details; from other source
we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the
recent 3 months.
Lawsuit
Up to date of reporting, no existing or latent litigation of the
subject has been found.
Interview Details
|
Name |
Ms. Zhou |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.17 |
|
UK Pound |
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Analysis
Done by : |
RAS |
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|
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Report
Prepared by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy.
General unfavourable factors will not cause fatal effect. Satisfactory capability
for payment of interest and principal sums |
Fairly
Large |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and
principal sums in default or expected to be in default upon maturity |
Limited
with full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
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|
-- |
NB |
New
Business |
-- |
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This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.